January 31, 2020 / 7:21 AM / 25 days ago

Boeing supplier Senior warns of lower aerospace revenue, margins

Jan 31 (Reuters) - Britain’s Senior Plc, which makes parts including airframes and engine build-up tubes for Boeing Co’s 737 MAX jets, said on Friday revenue and margins at its aerospace division will be lower in 2020 because of the MAX grounding.

“With Boeing’s temporary halt in production, the assumptions around reduced production rates and the slower ramp up, the board currently expects aerospace revenue in 2020 to be around 20% below 2019 levels, before returning to growth in 2021,” Senior said in a statement.

However, it said group revenue is expected to be in line with expectations and adjusted earnings per share to be ahead of forecast due to one-off benefits from lower costs.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr

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